Single Premium


Also found in: Acronyms.

Single Premium

A lump sum used to purchase an annuity, insurance policy, or similar instrument. A single premium is expensive, but it causes less strain on one's monthly budget as it does not require one to make recurring payments. See also: Single Premium Immediate Annuity, Single Premium Deferred Annuity.
References in periodicals archive ?
This will hit single premium policies the most as their sum assured is usually less than times the premium.
NWL Lifetime Returns Select - Single Premium 512-836-1010 / www.
The move follows a damning report into the PPI market by the Competition Commission last month, in which it said it would be banning the sale of single premium PPI from October 2010.
He says claim management companies are ready to pursue anybody who has sold single premium PPI in the last six years.
A good strategy is to have the discipline of a regular premium policy with the option of making extra payments as single premiums.
The policy form number for Successor Single Premium Life is L-9938 11/03 in most states.
First of all, while a single premium life may be right for wealth transfer, it's not the only answer.
According to the new rules, all limited premium Ulips, other than single premium products shall have a premium- paying term of at least five years.
Major banks have all said they will stop selling single premium insurance for personal loans by the end of January.
June 5 /PRNewswire/ -- MassMutual Financial Group announced today the introduction of a single premium immediate variable annuity, MassMutual RetireEase Select(SM), and a new single premium fixed immediate annuity, MassMutual RetireEase(SM).
Single premium payment protection insurance (PPI) is for cover supposed to last for the duration of a loan, to ensure loan repayments continue in the event of accident, sickness and unemployment.

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